Whitbread PLC S430 (2B) Companies Act 2006 Statement (4468K)
01 Septiembre 2021 - 10:45AM
UK Regulatory
TIDMWTB
RNS Number : 4468K
Whitbread PLC
01 September 2021
1 September 2021
Whitbread PLC - Louise Smalley - S430 (2B) Companies Act 2006
Statement
As previously announced, Louise Smalley, Group HR Director,
retired from the Board and the Company on 31 August 2021. The
following information, which will also be made available on the
Company's website, is provided in accordance with Section 430 (2B)
of the Companies Act 2006:
The Remuneration Committee has determined that Louise will be
treated as a good leaver and all payments are in line with the
Company's stated Remuneration Policy for a good leaver approved by
the shareholders at the General Meeting held on 6 December
2019.
Salary and benefits
Louise received her salary, benefits and pension allowance as
usual until the date of leaving the Company. There will be no pay
in lieu of notice.
Directors' Annual Incentive Scheme
Subject to performance against the targets set at the start of
the financial year, Louise may receive a cash payment in respect of
the 2021/22 annual incentive scheme, pro-rated for the period she
is employed. She may also receive a cash payment and share award in
respect of the 2020/21 financial year, if the supplementary
performance measures (tested over the 2021/22 financial year) are
met. These payments will be determined by the Remuneration
Committee in April 2022.
Deferred awards under previous Annual Incentive Scheme
cycles
Share awards deferred in respect of annual incentives earned
from the 2019 and 2020 schemes will vest three years from the date
of their respective awards.
Restricted Share Plan
An outstanding award made under the RSP in 2020 may vest subject
to time pro-rating and assessment of underpins over the full
performance period. The maximum possible vesting, subject to
assessment of the underpins, would be 9,172 shares. The extent to
which these shares vest will be confirmed by the Remuneration
Committee in April 2023 and any shares vesting are subject to a
further two-year holding period. Louise did not receive a grant
under the RSP in 2021.
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END
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